Thursday, February 13, 2014

Non-Profit

My friend Prester John over to "Goober Joes" taught me something yesterday. The NFL, that is the National Football League, is considered a non- profit organization by the IRS. That means they pay no taxes on the huge profits they make every year.

Let that sink in a moment.......................................................

The league's fingers are in enough pies, they bring in over $9 billion dollars per year. Of that $9 Billion, $180 million goes to the league offices directly. The rest is dispersed among the 32 teams and they do pay taxes on that. But, $180 million tax free? The head honcho puts $29 million a year in his pocket.

Two things are happening here. First and foremost, a small bit of bipartisanship is poking up above the bitter partisan landscape. And second, tax free status as an abused loophole is shoved into the light of day.

Of course, being some kind of sacred cow, I am guessing the NFL will emerge unscathed.

When do we tax churches? The Catholic Church is one of the largest owners of funeral homes in New York City. Beside that, they also function as a political entity. If you remember, the Catholic Church of Portland was collecting money during services to defeat the Gay Rights bill proposed in Augusta a few years back.

At the very least they should have to publicly declare their investments their profits and their expenditures.

BBC - I enjoy football. But then all I am is another monkey who likes to be distracted.

Ol'Buzzard - I have always felt churches should not be tax exempt. Not only do they enjoy a tax free existence, their parishioners are able to deduct tithing on their tax returns. One or the other but not both.

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